Japanese news portal Business Journal has published a report that sheds a little more light on the Capcom board's rejection of Takeover Defense Plan at the company's general shareholders' meeting recently.
According to the report, 47.41% of the board were in favour of renewing the plan, down from 58.92% at the general meeting held on June 2012.
Business Journal considers this an anomaly, especially since 45.08% of Capcom's stock is currently held by foreign investors outside of Japan. This figure has increased by more than 10% since 2012.
So what caused the Capcom board to reject the renewal of takeover defense counter-measures?